Aggressive anti-business regulators dominate Biden’s FTC, FCC and SEC. Any company that makes a healthy prospect is a suspect monopolist. Now the state regulatory thugs are getting into the game of suing companies for being too profitable.
In recent years, Colorado lawmakers gave their attorney general more authority to enforce antitrust laws; Washington state lawmakers stiffened penalties for antitrust violations; and Delaware legislators retooled their regulations.
The Biden Department of Justice and the Federal Trade Commission have targeted Apple, Amazon, Google, RealPage, and Visa with a slew of actions on mergers and alleged monopolistic behavior. Many blue states joined these cases.
New York State Senator Michael Gianaris, who joined with AOC to block Amazon’s plan to build a second headquarters in New York City, wants to encourage more such activity. His bill aims to “police abuses of power by dominant firms.” He says “it would revolutionize the way we take on these dominant players,” which no doubt would lead to higher consumer prices since the fight against “dominance” is often a disguised way to prop inefficient competitors and slow down innovation.